Warrington’s commercial property market is showing no ill effects from current political factors according to a new review.
Last year saw the second highest level of investment in the town since 1999 with over half of the £92 million traded generated through industrial transactions.
The figures have been released as part of Warrington & Co.’s 19th Annual Warrington Property Review.
The town’s office market showed an increase of 20% in total floor space transacted, as well as an improved average deal size of 7,114 sq ft with significant lettings to Muller, Canon and Ofcom.
In 2016, 73 deals took place making the year the third best on record. Omega saw the two largest industrial deals of the year to Domino Pizza and to as yet unnamed occupier.
Birchwood Park (pictured) again set the highest rent level achieved across the year. Whilst not quite matching last year’s town record of £20 per sq ft, the healthy level of £17.50 per sq ft achieved at 104 Dalton Avenue was the highest figure in 2016.
Councillor Terry O’Neill, leader of Warrington Borough Council, says: “Warrington’s economy continues to boom. As a city we consistently outperform the rest of the region and much of the UK in our economic performance as is evidenced yet again in this review.”
Steve Park, managing director of Warrington & Co., Warrington’s partnership for growth, adds: “Warrington has gradually become renowned across the UK for offering an excellent investment experience, a message that is being broadcast not just by the local council or Warrington & Co. but importantly by the investors themselves, this is resonated by the statistics presented here today.
“These are exciting times in Warrington, despite the economic uncertainty the city is brisling with optimism.”